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Panay Railways Inc. is a government-owned and controlled corporation of the Philippines headquartered in La Paz, Iloilo City, the Philippines, on the island of Panay. It is a subsidiary of Phividec Railways Inc. of the Philippine Veterans Investment Development Corporation (Philvedec). The railway current doesn't operate any trains but it leases property it owns from which it derives revenue to defray the personnel and administrative costs incurred from looking after its assets.〔 The company has been owned in succession by the Rehabilitation Finance Corporation which became the Development Bank of the Philippines (1945–74), and then it was sold to the Philippine Veterans Investment Development Corporation (Philvedec) (1974–79)〔〔 In 1979, management and operations were transferred to the Philippine Sugar Commission (Philsucom) which changed the company's name to the current Panay Railways, Inc.〔 On September 26, 1995, PHIVIDEC re-took ownership of Panay Railways from the Sugar Regulatory Administration, Philsucom's successor.〔 As of 2013 the director of the Panay Railways Inc. was Cesar Capellan.〔 ==History== In December 1905, a syndicate composed of William Salomon and Company, the International Banking Corporation, Heidelbach, Ickelheimer and Company, Cornelius Vanderbilt III, Charles M. Swift, H. R. Wilson, and J. G. White and Company was the sole bidder for the right to construct railroads on Cebu, Panay and Negros. In 1906, the syndicate was awarded the concession and the Philippine Railway Company Inc. was incorporated in the state of Connecticut, United States on March 5, 1906. On May 28, 1906, the Philippine government formally passed an act granting the company the concession.〔〔(【引用サイトリンク】url=http://www.chanrobles.com/scdecisions/jurisprudence1916/mar1916/gr_l-10045_1916.php )〕 The company became part of a "Manila syndicate", a collection of Philippine infrastructure companies including the Manila Electric Railway and Light Company, the Manila Construction Company, and the Manila Suburban Railways Company. Later the Philippine Railways Construction Company was added.〔 Construction began on a railroad from Iloilo City to Roxas City in Capiz with crews working from both cities and meeting in the middle in 1907.〔 Crews working from the north and south met at the railway track's highest elevation in a flag stop near Passi's border with Dumarao, later called Summit. Operations began immediately upon completion.〔 In 1985 passenger operations ceased and in 1989 freight operations ceased.〔 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Panay Railways」の詳細全文を読む スポンサード リンク
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